Wilmington Trust, as part of the M&T Bank family, and AccessFintech have collaborated on an automated loan lifecycle management solution using the Synergy platform.
This would enable the real-time sharing of contract level data for the private credit market via the Synergy network, which the companies say would allow agents, lenders, and administrators to connect shared workflows in a single environment.
The collaboration is also said to address the challenges in the private credit and syndicated loan industry by offering automated workflows, which would allow the improved identification of cash breaks as well as data transparency.
Medita Vucic, Wilmington Trust’s head of structured finance and loan market solutions, comments: “Wilmington Trust is working with AccessFintech to further enhance the syndicated loan market's focus on solutions for data transparency and workflow collaboration, all of which continue to be critical for the future growth and scalability of our industry.”
Cory Olsen, head of loan products at AccessFintech, adds: “Synergy is expanding its shared data network, and we are thrilled to join forces with Wilmington Trust to further strengthen loan industry cooperation.”
